One-Step

Towards

Success

PROFIT AND LOSS

Quantitative Aptitude For:
*Bank PO,SBI PO,IBPS PO Exams
*Postal Sorting Assistant Exams
*SSC Combined Graduate Level Exams
*LIC AAO and All other competitive examinations

Akshay Almast

2013

Profit and Loss

PROFIT & LOSS

Definitions:
Cost Price: The price at which

12. If a trader professes to sell his

an article is purchased is called

the cost price or C.P.
Selling Price: The price at
which an article is sold is called
the selling price or S.P.
Marked (List) Price: The Price
that is indicated or marked on the
article is called marked price or
M.P.
Profit (Gain): If S.P. is greater
than C.P., the seller is said to have
a profit (gain).
Loss: If S.P. is less than C.P., the
seller is said to have a loss.
Discount: It is reduction given
on the Marked Price or List Price
of an article.

=[

Formulae:
1. Gain= (SP)-(CP)
2. Loss= (CP)-(SP)
Gain x 100

3. Gain %= (

4. Loss %= (

5. SP=
6. SP=
7. CP=
8. CP=

CP
Loss x 100

CP
100+Gain %

100
(100Loss %)
100
100
(100+Gain %)
100
(100Loss %)

x CP
x CP
x SP
x SP

9. Discount= MP-SP
10. Discount%= (
11. SP= (

100D%
100

D
M.P.

x 100)

x MP)

goods at Cost Price, but uses false

weight, then Gain (Profit) Percent,
Error
True Value (Error)

x 100]%

13. If a trade gets x% profit and

x% loss in selling two similar
articles, then in over all
transaction, there is always a loss
which is

Loss %= ( )2
10

14. If an article is sold at a gain of

49%, then SP= 149% of CP.

15. If an article is sold at a loss of

49%, then SP= 51% of CP.
Mostly Asked Questions
(Fully Solved)

Que.:- If the cost price of 12

pens is equal to the selling price
of 8 pens, the gain percent is:
Sol.:- Let C.P. of each pen be Rs.1.
Then, C.P. of 8 pens= Rs.8
S.P. of 8 pens= Rs.12.
Gain
Gain%= (
x 100)
C.P.
4

= ( x 100) %
8
= 50%.
Que.:- A shopkeeper purchased
70 kg of potatoes for Rs. 420
and sold the whole lot at the
rate of Rs.6.50 per kg. What will
be his gain percent?
Sol.:- C.P. of 1kg potatoes,
420
= Rs. ( ) = Rs. 6.
70

Race Express/One-Step Towards Success

Profit and Loss

S.P. of 1kg potatoes= Rs. 6.50.

Gain
Gain%= (
x 100)
C.P.
0.50

=(
=

25
3

x 100) %

= 8 %.
3

Que.:- 100 oranges are bought

at the rate of Rs.350 and sold at
the rate of Rs.48 per dozen. The
percentage of profit or loss is:
350
Sol.:- C.P. of 1 orange= Rs. ( )
100
= Rs. 3.50.
48
S.P. of 1 orange= Rs. ( )
12
= Rs. 4.
Here, CP < SP
Gain
Gain%= (
x 100)
C.P.
0.50

=(
=

3.50
100
7

x 100) %
2

% or 14 %.
7

Que.:-A man gains 20% by

selling an article for a certain
price. If he sells it at double the
price, the percentage of profit
will be:
Sol.:- Let C.P. =Rs. x. Then,
S.P. = Rs. (120% of C.P.)
= Rs. (120% of x)
6
= Rs.
5

New S.P. = Rs. (2 x

12

6
5

= Rs.
5
Profit= (SP-CP)
12
Profit= Rs. ( )
= Rs.
7

5
7
5

Profit% = ( x x 100) %
5

= 140%.

Que.:- Some articles were

bought at 6 for Rs. 5 and sold at
5 for Rs. 6. Gain percent is:
Sol.:- Suppose, number of articles
bought= L.C.M. of 6 & 5= 30.
5
C.P. of 30 articles= Rs. ( x 30)
6
= Rs. 25.
6
S.P. of 30 articles= Rs. ( x 30)
5
= Rs. 36.
Gain
Gain%= (
x 100)
C.P.
11

= ( x 100) %
25
= 44%.
Que.:- A fair price shopkeeper
takes 10% profit on his goods.
He lost 20% goods during theft.
His loss percent is:
Sol.:- Suppose he has 100 items.
Let C.P. of each item be Rs.1.
Total cost= Rs.100.
No. of items left after theft= 80.
S.P. of each item= Rs. 1.10
Total sale= Rs. (1.10 x 80)
= Rs. 88.
Hence,
Loss x 100

Loss%= (

=(

12

CP

100

x 100) % = 12%.

Que.:- A trader marked the

price of his commodity so as to
include a profit of 25%. He
allowed discount of 16% on the
marked price. His actual profit
was:
Sol.:- Let C.P. be Rs. 100. Then,
marked price= Rs. 125.
S.P. = 84% of Rs. 125
84
= Rs. ( x 125)
100

Race Express/One-Step Towards Success

Profit and Loss

= Rs. 105.
Profit%= (SP-CP) %
= (105-100) %
= 5%.

M.P.
11

=(

110

45 x 100

x= Rs. (
90
= Rs. 50.
100
C.P. =

= Rs. ( x 45)
150
= Rs. 30.
Gain
Required Profit%= (
x 100)
C.P.
20

=(

x 100) %

30
200
3

x 100) %

Que.:- A trader marked his

goods at 20% above the cost
price. He sold half the stock at
the marked price, one quarter
at a discount of 20% on the
marked price and the rest at a
discount of 40% on the marked
price. His total gain is:
Sol.:-Let C.P. of whole stock=Rs.
100. Then, Marked Price of
whole Stock= Rs. 120.
M.P. of

x SP

(100+Gain %)
100

x 100)

= 10 %.

Que.:- A shopkeeper sells 25

articles at Rs. 45 per article
after giving 10% discount and
earns 50% profit. If the
discount is not given, the profit
gained is:
Sol.:- S.P. of 1 article= Rs. 45.
Let marked price of each
article be Rs. x. Then,
S.P. = 90% of Rs. x
90
45 =
100

Discount%= (

= 66 %.

M.P. of

1
2
1
4

stock= Rs. 60.

stock= Rs. 30.

Total S.P. is
= Rs. [60+(80% of 30)+(60% of 30)]
= Rs. (60+24+18)
= Rs. 102.
Hence, Gain%= (S.P. C.P.) %
= (102-100) % = 2%.

Que.:- A trader marked the

selling price of an article at 10%
above the cost price. At the time
of selling, he allows certain
discount and suffers a loss of
1%. He allowed a discount of:
Sol.:- Let C.P. =Rs. 100. Then,
Marked Price= Rs. 110.
S.P. = Rs. 99.
Discount = (M.P.-S.P.)
= Rs. (110-99)
= Rs. 11.

Que.:- The marked price of a

watch was Rs. 720. A man
bought the same for Rs. 550.80
after getting two successive
discounts, the first being 10%.
What was the second discount
rate?
Sol.:- Let the 2nd discount rate be
x %. Then,
(100-x) % of 90 % of 720= 550.80

(100)
100

90
100

x 720= 550.80
4

Race Express/One-Step Towards Success

Profit and Loss

100 = (

55080

Gain= Rs. (

) = 85

9 x 72

100 = 85
x = (100-85) = 15.
2nd discount rate= 15 %.

Gain%= (

Que.:- A fan is listed at Rs. 1500

and a discount of 20% is offered
on the list price. What
additional discount must be
offered to the customer to bring
the net price to Rs. 1104?
Sol.:- S.P. after 1st discount,
= Rs. (

80
100

21
20

= Rs. 1200.
Net S.P. = Rs. 1104.
Discount on Rs. 1200= Rs. 96.
D

Required discount= (M.P. x 100) %

96

=(1200 x 100) %
= 8 %.

20

20

x x 100) % = 5 %.

Que.:- A man buys an article for

10% less than its value and sells
it for 10% more than its value.
His gain or loss percent is:
Sol.:- Let the article be worth Rs. x.
C.P. = 90% of Rs. x
= Rs.

9
10

S.P. = 110% of Rs. x

= Rs.

x 1500)

) = Rs.

11
10

Here, CP < SP
Gain= Rs. (
= Rs.

11
10

10

5
Gain x 100

Gain%= (

CP
10

=( x
5

9
2

x 100) %

= 22 % >20 %.
9

Que.:- A cloth merchant sold

half of his cloth at 20% profit,
half of the remaining at 20%
loss and the rest was sold at the
cost price. In the total
transaction, his gain or loss will
be:
Sol.:- Let C.P. of whole be Rs. x.
C.P. of
C.P. of

1
2
1
4

stock= Rs.
stock= Rs.

= Rs. 4.25.

57

S.P. of 1 apple= Rs. ( )

12

= Rs. [(120% of 2 ) + (80% of 4) + 4]

= Rs. (

3
5

21

20

+ + ) = Rs.

34

Sol.:- C.P. of 1 apple= Rs. ( )

8

Total S.P.,

Que.:- A man bought apples at

the rate of 8 for Rs. 34 and sold
them at the rate of 12 for Rs. 57.
How many apples should be
sold to earn a net profit of Rs.
45?

Here, CP < SP

= Rs. 4.75.
Profit on each apple,
= (S.P. C.P.)
= (4.75 4.25)
5

Race Express/One-Step Towards Success

Profit and Loss

= Rs. 0.50.
45

No. of apples required= (0.50)= 90.

Que.:- A man buys two dozen
bananas at Rs. 16 per dozen.
After selling 18 bananas at the
rate of Rs. 12 per dozen, the
shopkeeper reduced the rate to
Rs. 4 per dozen. The percent
loss is:
Sol.:- C.P. = Rs. (16 x 2) = Rs. 32.
S.P. = Rs. (12 x 1.5 + 4 x 0.5)
= Rs. (18+2) = Rs. 20.
Loss%= (

Loss x 100
CP
12

=(

32

x 100) % = 37.5 %.

Que.:- A person incurs 5% loss

by selling a watch for Rs. 1140.
At what price should the watch
be sold to earn 5% profit?
Sol.:- Let new S.P. be Rs. x. Then,
(100-loss%):(1st S.P.) = (100+gain%):(2nd S.P.)

(100-5%):(1140)=(100+5%): x
95 : 1140 = 105 : x
x=(

1140 x 105

) = 1260.

95

S.P. = Rs. 1260.

Que.:- A man loses 10% by
selling an article for Rs. 180. At
what price should he sell it to
gain 10%?
Sol.:- Let new S.P. be Rs. x. Then,
(100-loss%):(1st S.P.) = (100+gain%):(2nd S.P.)

Que.:- A man buys a cycle for Rs.

1400 and sells it at a loss of
15%. What is the S.P. of the
cycle?
Sol.:- S.P. = 85 % of C.P.
= 85 % of Rs. 1400
= Rs. (

85
100

x 1400)

= Rs. 1190.
Que.:- When a plot is sold for
Rs.18,700 the owner loses 15 %.
At what price must the plot be
sold in order to gain 15%?
Sol.:- Let new S.P. be Rs. x. Then,
(100-loss%):(1st S.P.) = (100+gain%):(2nd S.P.)

(100-15%):(18,700)=(100+15%): x

85 : 18,700 = 115 : x
x=(

18,700 x 115
85

) = 25,300.

S.P. = Rs. 25,300.

(100-10%):(180)=(100+10%):x
90:180=110: x
x=(

180 x 110
90

) = 220.

SP = Rs. 220.
Que.:- A tradesman sold an
article at a loss of 20%. If the SP
had been increased by Rs. 100,
there would have been a gain of
5%. What was the cost price of
the article?
Sol.:- Let the C.P. be Rs. x. Then,
(105% of x) - (80% of x)=100
25% of x = 100

25
100

= 100

= 100
4

x = 400.
So, C.P. = Rs. 400.
6

Race Express/One-Step Towards Success

Profit and Loss

Que.:- A man bought a horse and

a carriage for Rs. 3000. He sold
the horse at a gain of 20% and
the carriage at a loss of 10%,
thereby gaining 2% on the
whole. Find the cost of the
horse.
Sol.:- Let the C.P. of the horse be Rs. x.

= Rs. 18.70
Let MP be Rs. x. Then,
SP = 85% of x
18.70 =

85
100
18.70 x 100

x=(

85

= 22.
MP = Rs. 22.

Then, C.P. of the carriage = Rs. (3000- x).

20% of x 10% of (3000- x) = 2% of 3000

20
100

3000
10
3000
10

= 60
= 60

10 x 15000 + 5 x = 3000
15 x = 15000 + 3000 = 18000
x=

18000
15

= 1200.

Que.:- List price of an article at a

showroom is Rs. 2000 and it is
being
sold
at
successive
discounts of 20% and 10%. Its
net selling price will be:
Sol.:- S.P. = 90% of 80% of Rs. 2000
= Rs. (

Hence, C.P. of the horse = Rs. 1200.

Que.:- On selling 17 balls at Rs.
720, there is a loss equal to the
cost price of 5 balls. The cost
price of a ball is:
Sol.:- CP of 17 balls - SP of 17 balls
= CP of 5 balls.
CP of 17 balls - CP of 5 balls
= SP of 17 balls.
CP of 12 balls = SP of 17 balls
= Rs. 720.
720

CP of 1 ball = Rs. (

12

) = Rs. 60.

Que.:- A pair of articles was

bought for Rs. 37.40 at a
discount of 15%. What must be
the marked price of each of the
articles?
Sol.:- SP of each article = Rs. (

37.40
2

90
100

80
100

x 2000)

= Rs. 1440.
Que.:- The price of an article is
raised by 30% and then two
successive discounts of 10%
each are allowed. Ultimately,
the price of the article is:
Sol.:- Let the original price be Rs.
100. Then, marked price = Rs. 130.
Final price = 90% of 90% of Rs. 130

= Rs. (

90

100

90
100

x 130)

= Rs. 105.30.
Increase in price= (105.30-100)%
= 5.3 %.

Que.:- By selling an article at of

the marked price, there is a loss

of 25%. The ratio of the marked
price and the cost price of the
article is:
7

Race Express/One-Step Towards Success

Profit and Loss

Sol.:- Let cost price = Rs. 100.

Then,

2
5

of (Marked Price) = 75

Marked Price = Rs. (

= Rs.

75 x 5

2
375

Required Ratio,
=

375
2

Que.:- A shopkeeper sells a

badminton
rackets,
whose
marked price is Rs. 30, at a
discount of 15% and gives a
shuttle cock costing Rs. 1.50
free with each racket. Even then
he makes a profit of 20%. His
cost price per racket is:
Sol.:- Marked Price = Rs. 30.
85
100

x 30) - 1.50]

= Rs. (25.50 - 1.50)

= Rs. 24.
Let C.P. be Rs. x. Then,
120% of x = 24
24

120

x = Rs. (

266
95

95
100

= 266

x 100) = Rs. 280.

Now, S.P. = Rs. 280, profit = 12 %.

100
112

x 280)

= Rs. 250.

= 375 : 200
= 15 : 8.

x=(

be Rs. x. Then,

C.P. of 1 saree = Rs. (

: 100

S.P. = Rs. [(

Sol.:- S.P. of 1 saree = Rs. 266.

Let the labelled price of each saree

x 100)

= Rs. 20.
Que.:- A shopkeeper sold sarees
at Rs. 266 each after giving 5%
discount on labelled price. Had
he not given the discount, he
would have earned a profit of
12% on the cost price. What
was the cost price of each
saree?

Que.:- An item when sold for Rs.

1,690 earned 30% profit on the
cost price. Then the cost price
is:
Sol.:- Cost price =Rs. (

100
130

x 1,690)

= Rs. 1,300.
Que.:- A dealer purchased a
washing machine for Rs. 7,660.
After allowing a discount of
12% on its marked price, he
still gains 10%. Find the
marked price of the washing
machine.
Sol.:- Cost price = Rs. 7,660.
S.P. = 110% of Rs. 7,660
= Rs. (

110
100

x 7,660)

= Rs. 8,426.
Let marked price be Rs. x.
Then, S.P. = 88% of x
8,426 = (
x=(

88

100
8,426 x 100
88

x = Rs. 9,575.
Marked Price = Rs. 9,575.

Race Express/One-Step Towards Success

Profit and Loss

Que.:- A dealer marks his goods

20% above cost price. He then
allows some discount on it and
marks a profit of 12%. The rate
of discount is:
Sol.:- Let Cost Price = Rs. 100.
Then,
M.P. = Rs. 120, S.P. = Rs. 112.
Discount= (MP-SP)
= Rs. (120-112) = Rs. 8.

Rs. 200 more, he would make a

profit of 5%. The cost price of
the article is:
Sol.:- Let cost price be Rs. x. Then,
SP = (105% of x) - (80% of x)
200 = 25% of x

Que.:- A man purchased an

article and sold it to B at a profit
of 25% and B sold it to C at a
loss of 10% and C paid Rs. 675
for it. For how much did A
purchase it (in Rs.)?
Sol.:- 125% of 90% of A = Rs. 675

Discount% = (

M.P.
8

=(

120
20

x 100)
x 100) %
2

% or 6 %.
3

Que.:- A trader marked his

product 20% higher than his
cost price and then gives 20%
discount on the marked price.
The profit or loss for selling the
product is:
Sol.:- Let Cost Price = Rs. 100.
Then,
Marked Price = Rs. 120.
100D%

S.P. = (

x MP)

100
10020%

=(

100

x 120)

= Rs. 96.
Here, CP > SP
Loss = (CP-SP) = (100-96) = 4
Loss% = (

200 =

25
100
200 x 100

x = Rs. (

125
100
45
40

A=

125
100
30

CP
4 x 100

A=

100

)%

= 4 %.
Que.:- A man sold an article at a
loss of 20%. If he could sell it for

90

x A = 675

100

675 x 40
45

= Rs. 600.

Que.:- A sells a bicycle to B at a

profit of 20%. B sells it to C at a
profit of 25%. If C pays Rs. 225
for it, the cost price of the
bicycle for A is:
Sol.:- 125% of 120% of A = Rs. 225

=(

) = Rs. 800.

x A = 675

Loss x 100

25

20

120
100

x A = 225

x A = 225
225 x 20
30

= Rs. 150.

Que.:- A fair price shopkeeper

takes 10% profit on his goods.

Race Express/One-Step Towards Success

Profit and Loss

He lost 20% goods during theft.

His loss percent is:
Sol.:- Suppose he has 100 items.
Let C.P. of each item be Rs. 1.
Total cost = Rs. 100. Number of
items left after theft = 80.
S.P. of each item = Rs. 1.10.
Total sale = Rs. (1.10 x 80)
= Rs. 88.
Hence,Loss%= (

12
100

x 100) %= 12%.

Que.:- At what percent above

the
cost
price
must
a
shopkeeper mark his goods so
that he gains 20% even after
giving a discount of 10% on the
marked price?
Sol.:- Let C.P. = Rs. 100. Then,
S.P. = Rs. 120.
Let marked price be Rs. x.
Then, S.P. = 90% of x
120 =

90
100
120 x 100

x=(

90
1

) = 133

1
3

Marked Price = 33 % above CP.

3

Que.:- A dishonest dealer uses a

scale of 90 cm instead of a
metre scale and claims to sell at
cost price. His profit is:
Sol.:- Gain% = (

Gain x 100
CP
10

=(

90

x 100) %
1

= 11 %.
9

Que.:- 300 bananas were

purchased at Rs. 128 a hundred.
What should be the selling price
per dozen, if a profit of Rs.66 is
to be made?
Sol.:- Cost Price of 300 Bananas,
=

128
100

x 300 = Rs. 384

Profit = Rs. 66 Given

Selling Price of 300 Bananas,
= 384 + 66 = Rs. 450
Selling Price per dozen,
=

450
300

x 12 = Rs. 18.

Que.:- A sells an article to B at a

gain of 10%. B sells it to C at a

gain of 7 %. C disposes of it at

Que.:- A man sold 18 cots for Rs.

16,800, gaining thereby the cost
price of 3 cots. The C.P. of a cot
is:
Sol.:- (SP of 18 cots)-(CP of 18 cots)
= (CP of 3 cots)
(CP of 21 cots) = (SP of 18 cots)
= Rs. 16,800.
16,800

(CP of 1 cot)= Rs. (

21

)= Rs. 800.

a loss of 25%. If the prime cost

to the manufacturer A was Rs.
3200,then find the price
obtained by C.
Sol.:- A buys an article for Rs.
3200 and sells it at a gain of 10%.
3200 x 110

Cost Price to B = Rs. (

100
15

B sells it at a gain of
Cost Price to C=Rs. (

%,

2
3200 x 110 x107.5
(100 x 100)

)
10

Race Express/One-Step Towards Success

Profit and Loss

C sells it at a loss of 25 %,
Price Obtained by C is

3200 x 110 x 107.5 x 75

= Rs. (

(100 x 100 x 100)

= Rs. (3200 x 1.1 x 1.075 x 0.75)

= Rs. 2838.
Que.:- A sold a tape-recorder to
B for Rs. 4,860 at a loss of 19%.
Again B sold it to C at a price
that would give A, a profit of
17%. The gain of B is:
Sol.:- Cost of tape-recorder paid by
A = 4860 x

100
81

= Rs. 6000.
Cost of tape-recorder paid by
C = 6000 x

117

Gain x 100

CP
2160 x 100

=(
=

400
9

100

+ 162 = x + 17% of x =

117
100

36 x = 16200

x = Rs. 450.
Que.:- It costs Re. 1 to
photocopy a sheet of paper.
However, 2% discount is
allowed on all photocopies done
after first 1000 sheets. How
much will it cost to copy 5000
sheets of paper?
Sol.:- Total cost,
=Rs. [1x1000+(100-2)% of 1x4000]
=Rs. (1000+0.98 x 4000)
=Rs. (1000+3920)
=Rs. 4920.

100

= Rs. 7020.
Gain of B = Rs. (7020-4860)
= Rs. 2160.
Gain % = (

81

4860

)
4

% or 44 %.
9

Que.:- If the selling price of a

product is increased by Rs. 162,
then the businessman will make
a profit of 17% instead of a loss
of 19%. The cost price of the
product is:
Sol.:- Let the cost price be Rs. x.
if loss is 19%, then the selling
Price would have been,
x - 19% of x, i.e.,

81
100

Que.:- If by selling 110 apples,

the C.P. of 120 apples is
realised, the gain percentage is:
Sol.:-Let C.P. of each apple be Rs. 1.
C.P. of 110 apples = Rs. 110
S.P. of 110 apples = Rs. 120
10

Gain % = (110 x 100) % = 9 11 %.

Que.:- By selling 12 toffees for a
rupee, a man loses 20%. How
many for a rupee should he sell
to get a gain of 20%?
Sol.:- Let S.P. of 12 toffees be Rs. x.
Then, 80 : 1 = 120 : x
120

x=(

80

)= .
2

For Rs. , toffees sold = 12.

2

For Rs. 1 , toffees sold,

2

= (12 x ) = 8.
3

11

Race Express/One-Step Towards Success

Profit and Loss

Que.:- The cash difference

between the selling prices of an
article at a profit of 4% and 6%
is Rs. 3. The ratio of the two
selling prices is:
Sol.:- Let C.P. of the article be Rs. x.
Then, Required ratio,
=

104%
106%

104
106

52
53

= 52:53.

Que.:- Peter bought an item at

20% discount on its original
price. He sold it with 40%
increase on the price he bought
it. The new sale price is by what
percent more than the original
price?
Sol.:- Let the original price be Rs.
100. Then, C.P. = Rs. 80.
S.P. = 140% of Rs. 80
140

= Rs. (

100

x = 60.
Weight used = (1000 - 60)
= 940 gms.
Que.:- A shopkeeper cheats to
the extent of 10% while buying
as well as selling, by using false
weights. His total gain is:
Sol.:Rule:
Gain % =

(100+ %)2

Gain %= [
=(

100
(100+10)2

100] %

100
1210010000
100

100

)%

= 21 %.
*****

x 80)

= Rs. 112.
Required Percentage,
= (112 - 100) % = 12%.
Que.:- A dishonest dealer
professes to sell his goods at
cost price. But he uses a false
weight and thus gains 6

%.

For a kg, he uses a weight of:

Sol.:- Let error = x gms. Then,

1000
100
1000

x 100 = 6
=

18
47

300
47

47 x = 3 (1000 - x)
50 x = 3000
12

Race Express/One-Step Towards Success